Russian Federation Makes Proposal to global Monetary Fund on Kyiv’s $3-Billion …
The International Monetary Fund has lent Ukraine about $7 billion in a series of loans since past year, The Economist said in August.
“Speaking Monday before leaving Antalya, Turkey, Mr. Putin suggested Russia’s estrangement from the West is ending, noting a clear interest among European officials to renew ties in several spheres and characterizing the summit as less tense than last year’s meeting in Australia”.
Putin said that rather than seeking $3 billion in debt repayment this year, Russian Federation would be willing to agree to payments of $1 billion a year in 2016-18. “Putin is demonstrating a step towards compromise, but nobody got to the bottom of the technicalities”, he said.
“First of all, Putin wants a softening of relations… including for the creation of a united front against Islamic State”, he said.
On Friday, Ukrainian Prime Minister Arseny Yatsenyuk reiterated that Kyiv would not offer Moscow “better conditions” than to private creditors, who in October agreed to write down $3.6 billion and restructure future debt worth $8.5 billion.
Kyiv has stalled on repaying the Eurobond deal arranged shortly before former President Viktor Yanukovych was deposed previous year, saying the debt is private.
A spokesman for Ukraine’s creditor committee declined comment. I said that we were ready for a deeper restructuring.
“Under terms of the deal there is no carve-out for sovereign debt or Paris Club debt”.
In Turkey, Putin “felt he held all the cards as the West came to him for answers” to the Syrian conflict and the deadlock between government forces and Russian-backed rebels in Ukraine, the Financial Times says.
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